VANCOUVER, British Columbia, Feb. 04, 2022 (GLOBE NEWSWIRE) -- Pioneer Media Holdings Inc. (CSE: PNER, AQSE: PNER) ("Pioneer" or the "Company") is pleased to announce that it has completed the acquisition of the entire share capital of Bark Ventures ("Bark"), a NFT play-to-earn game developer focused on developing games for niche communities, based in Vancouver, BC.
As part of Pioneer's growth strategy, the technology incubator is acquiring key assets within Web3 including NFT, NFT Games and DAO's (decentralized autonomous organizations) as the Company continues to expand into this evolutionary, decentralized landscape. Pioneer's strategic M&A plan is being deployed to create a full Web3 ecosystem, to capitalize on the dramatic change to the crypto landscape in a short amount of time.
Mike Edwards, CEO of Pioneer commented, "We feel confident that these new emerging trends will be the cornerstone of the next digital age, and the recent surge in NFT's, NFT Games and DAO's are changing the historical distribution channels and breaking down barriers to entry. This is a transformative time, and our strategy is to create a full, Web3 ecosystem that provides investors access to a portfolio of innovative small and medium sized companies within a rapidly growing sector."
Transaction Details
Under the terms of the acquisition, Pioneer has acquired all of Bark's outstanding shares. In consideration, Pioneer issued 2,857,142 common shares at C$1.75 per share, of which 398,671 common shares were issued in settlement of debt owing by Bark to an arm's length creditor. The shares issued by Pioneer are subject to a resale restriction period ending June 3, 2022.
Application will be made for 2,857,142 common shares to be admitted to trading on Aquis Stock Exchange and such admission is expected to occur at 8:00am on or around February 10, 2022.
Following the issuance of the above-mentioned common shares, the Company's issued share capital will comprise 76,897,507 common shares without par value, with each share carrying the right to one vote.
The Company's directors take full responsibility for this announcement.
About Pioneer Media Holdings Inc.
Pioneer is technology incubator creating a full Web3 ecosystem focusing on NFT, NFT Gaming, DAO and tokenized communities. Pioneer's experienced management team leverages its global network and expertise to provide investors with direct access to a portfolio of innovative, early-stage to mid-level growth companies in the space.
Additional information about Pioneer is available at www.p10neer.comor www.sedar.com.
ON BEHALF OF PIONEER MEDIA HOLDINGS INC.
"Mike Edwards"
CEO & Director
First Sentinel Corporate Finance Ltd (AQSE Corporate Adviser)
Brian Stockbridge / Gabrielle Cordeiro +44 7876 888 011
Neither the Canadian Securities Exchange nor any Market Regulator (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this release.
The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014. Upon the publication of this announcement via a Regulatory Information Service, this inside information is now considered to be in the public domain.
